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Side-by-side financial comparison of indie Semiconductor, Inc. (INDI) and Mama's Creations, Inc. (MAMA). Click either name above to swap in a different company.
indie Semiconductor, Inc. is the larger business by last-quarter revenue ($58.0M vs $47.3M, roughly 1.2× Mama's Creations, Inc.). Mama's Creations, Inc. runs the higher net margin — 1.1% vs -53.8%, a 55.0% gap on every dollar of revenue. On growth, Mama's Creations, Inc. posted the faster year-over-year revenue change (50.0% vs -0.0%). Mama's Creations, Inc. produced more free cash flow last quarter ($3.7M vs $-16.1M). Over the past eight quarters, Mama's Creations, Inc.'s revenue compounded faster (33.0% CAGR vs 5.3%).
indie Semiconductor is a fabless semiconductor manufacturer focused on designing high-performance mixed-signal and embedded system-on-chip solutions for the automotive industry. Its products support advanced driver assistance systems, in-vehicle infotainment, connected car, and electric vehicle applications, serving global auto OEMs and tier 1 suppliers across major global markets.
Mama's Creations, Inc. is a U.S.-based food manufacturing enterprise that produces a wide portfolio of refrigerated ready-to-eat and heat-and-serve food products, including Italian-style meatballs, sausages, pasta dishes, and other prepared meals. It mainly distributes its offerings to grocery retailers, mass merchandisers and foodservice partners across the United States, focusing on convenient, high-quality comfort food for daily consumer demand.
INDI vs MAMA — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $58.0M | $47.3M |
| Net Profit | $-31.2M | $540.0K |
| Gross Margin | 37.3% | 23.6% |
| Operating Margin | -58.5% | 1.7% |
| Net Margin | -53.8% | 1.1% |
| Revenue YoY | -0.0% | 50.0% |
| Net Profit YoY | 9.1% | 31.7% |
| EPS (diluted) | $-0.16 | $0.01 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $58.0M | $47.3M | ||
| Q3 25 | $53.7M | $35.2M | ||
| Q2 25 | $51.6M | $35.3M | ||
| Q1 25 | $54.1M | $33.6M | ||
| Q4 24 | $58.0M | $31.5M | ||
| Q3 24 | $54.0M | $28.4M | ||
| Q2 24 | $52.4M | $29.8M | ||
| Q1 24 | $52.4M | $26.7M |
| Q4 25 | $-31.2M | $540.0K | ||
| Q3 25 | $-38.3M | $1.3M | ||
| Q2 25 | $-39.0M | $1.2M | ||
| Q1 25 | $-34.5M | $1.6M | ||
| Q4 24 | $-34.4M | $410.0K | ||
| Q3 24 | $-49.7M | $1.1M | ||
| Q2 24 | $-19.2M | $553.0K | ||
| Q1 24 | $-31.2M | $1.4M |
| Q4 25 | 37.3% | 23.6% | ||
| Q3 25 | 40.1% | 24.9% | ||
| Q2 25 | 40.6% | 26.1% | ||
| Q1 25 | 41.7% | 27.0% | ||
| Q4 24 | 42.6% | 22.6% | ||
| Q3 24 | 39.3% | 24.2% | ||
| Q2 24 | 42.2% | 25.0% | ||
| Q1 24 | 42.5% | 29.3% |
| Q4 25 | -58.5% | 1.7% | ||
| Q3 25 | -71.4% | 4.8% | ||
| Q2 25 | -83.3% | 4.5% | ||
| Q1 25 | -72.0% | 5.7% | ||
| Q4 24 | -58.4% | 1.8% | ||
| Q3 24 | -92.5% | 5.7% | ||
| Q2 24 | -70.0% | 2.6% | ||
| Q1 24 | -94.8% | 7.4% |
| Q4 25 | -53.8% | 1.1% | ||
| Q3 25 | -71.3% | 3.6% | ||
| Q2 25 | -75.6% | 3.5% | ||
| Q1 25 | -63.9% | 4.8% | ||
| Q4 24 | -59.2% | 1.3% | ||
| Q3 24 | -92.1% | 4.0% | ||
| Q2 24 | -36.6% | 1.9% | ||
| Q1 24 | -59.6% | 5.3% |
| Q4 25 | $-0.16 | $0.01 | ||
| Q3 25 | $-0.19 | $0.03 | ||
| Q2 25 | $-0.20 | $0.03 | ||
| Q1 25 | $-0.18 | $0.04 | ||
| Q4 24 | $-0.18 | $0.01 | ||
| Q3 24 | $-0.28 | $0.03 | ||
| Q2 24 | $-0.11 | $0.01 | ||
| Q1 24 | $-0.19 | $0.03 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $145.5M | $18.1M |
| Total DebtLower is stronger | $353.4M | — |
| Stockholders' EquityBook value | $358.0M | $49.6M |
| Total Assets | $840.8M | $84.0M |
| Debt / EquityLower = less leverage | 0.99× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $145.5M | $18.1M | ||
| Q3 25 | $160.9M | $9.4M | ||
| Q2 25 | $192.6M | $12.0M | ||
| Q1 25 | $236.6M | $7.2M | ||
| Q4 24 | $274.2M | $9.3M | ||
| Q3 24 | $96.9M | $7.4M | ||
| Q2 24 | $112.3M | $13.0M | ||
| Q1 24 | $138.2M | $11.0M |
| Q4 25 | $353.4M | — | ||
| Q3 25 | $353.5M | — | ||
| Q2 25 | $352.5M | — | ||
| Q1 25 | $379.0M | — | ||
| Q4 24 | $381.3M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $358.0M | $49.6M | ||
| Q3 25 | $369.2M | $29.6M | ||
| Q2 25 | $390.4M | $26.4M | ||
| Q1 25 | $405.6M | $24.9M | ||
| Q4 24 | $417.9M | $23.0M | ||
| Q3 24 | $458.6M | $22.3M | ||
| Q2 24 | $470.7M | $20.3M | ||
| Q1 24 | $432.9M | $19.6M |
| Q4 25 | $840.8M | $84.0M | ||
| Q3 25 | $855.1M | $51.2M | ||
| Q2 25 | $867.6M | $52.7M | ||
| Q1 25 | $909.0M | $47.1M | ||
| Q4 24 | $941.4M | $47.9M | ||
| Q3 24 | $797.5M | $43.0M | ||
| Q2 24 | $797.3M | $47.2M | ||
| Q1 24 | $803.6M | $45.1M |
| Q4 25 | 0.99× | — | ||
| Q3 25 | 0.96× | — | ||
| Q2 25 | 0.90× | — | ||
| Q1 25 | 0.93× | — | ||
| Q4 24 | 0.91× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-14.4M | $3.9M |
| Free Cash FlowOCF − Capex | $-16.1M | $3.7M |
| FCF MarginFCF / Revenue | -27.8% | 7.8% |
| Capex IntensityCapex / Revenue | 3.0% | 0.4% |
| Cash ConversionOCF / Net Profit | — | 7.16× |
| TTM Free Cash FlowTrailing 4 quarters | $-71.4M | $6.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-14.4M | $3.9M | ||
| Q3 25 | $-6.2M | $-1.7M | ||
| Q2 25 | $-7.6M | $6.0M | ||
| Q1 25 | $-29.0M | $-857.0K | ||
| Q4 24 | $-6.7M | $4.8M | ||
| Q3 24 | $-22.8M | $-2.4M | ||
| Q2 24 | $-19.7M | $3.6M | ||
| Q1 24 | $-9.3M | $6.7M |
| Q4 25 | $-16.1M | $3.7M | ||
| Q3 25 | $-10.3M | $-2.2M | ||
| Q2 25 | $-13.6M | $5.5M | ||
| Q1 25 | $-31.4M | $-930.0K | ||
| Q4 24 | $-8.6M | $2.5M | ||
| Q3 24 | $-29.3M | $-4.0M | ||
| Q2 24 | $-23.4M | $2.5M | ||
| Q1 24 | $-11.7M | $6.6M |
| Q4 25 | -27.8% | 7.8% | ||
| Q3 25 | -19.2% | -6.2% | ||
| Q2 25 | -26.4% | 15.5% | ||
| Q1 25 | -58.0% | -2.8% | ||
| Q4 24 | -14.8% | 8.0% | ||
| Q3 24 | -54.3% | -14.1% | ||
| Q2 24 | -44.7% | 8.4% | ||
| Q1 24 | -22.3% | 24.8% |
| Q4 25 | 3.0% | 0.4% | ||
| Q3 25 | 7.8% | 1.5% | ||
| Q2 25 | 11.6% | 1.5% | ||
| Q1 25 | 4.4% | 0.2% | ||
| Q4 24 | 3.2% | 7.2% | ||
| Q3 24 | 12.1% | 5.6% | ||
| Q2 24 | 7.0% | 3.8% | ||
| Q1 24 | 4.4% | 0.4% |
| Q4 25 | — | 7.16× | ||
| Q3 25 | — | -1.31× | ||
| Q2 25 | — | 4.85× | ||
| Q1 25 | — | -0.54× | ||
| Q4 24 | — | 11.71× | ||
| Q3 24 | — | -2.10× | ||
| Q2 24 | — | 6.58× | ||
| Q1 24 | — | 4.79× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
INDI
| Products | $55.7M | 96% |
| Services | $2.3M | 4% |
MAMA
Segment breakdown not available.
